First Hawaiian Bank Sells 19,325 Shares of Matson, Inc. $MATX

First Hawaiian Bank lowered its position in shares of Matson, Inc. (NYSE:MATX) by 41.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,761 shares of the shipping company’s stock after selling 19,325 shares during the period. First Hawaiian Bank’s holdings in Matson were worth $3,430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. increased its position in shares of Matson by 6.6% during the first quarter. American Century Companies Inc. now owns 1,158,834 shares of the shipping company’s stock valued at $148,528,000 after acquiring an additional 71,902 shares in the last quarter. Boston Partners increased its position in shares of Matson by 424.8% during the first quarter. Boston Partners now owns 958,170 shares of the shipping company’s stock valued at $121,428,000 after acquiring an additional 775,600 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Matson by 1.0% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 603,634 shares of the shipping company’s stock valued at $77,368,000 after acquiring an additional 6,135 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Matson by 10.9% during the first quarter. Ameriprise Financial Inc. now owns 461,769 shares of the shipping company’s stock valued at $59,188,000 after acquiring an additional 45,296 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Matson by 2.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 352,746 shares of the shipping company’s stock valued at $45,212,000 after acquiring an additional 6,747 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In other news, SVP Christopher A. Scott sold 1,044 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $109.94, for a total transaction of $114,777.36. Following the completion of the sale, the senior vice president owned 13,441 shares of the company’s stock, valued at $1,477,703.54. The trade was a 7.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.05% of the stock is currently owned by insiders.

Matson Trading Up 2.9%

NYSE:MATX opened at $106.00 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13. Matson, Inc. has a 12 month low of $91.75 and a 12 month high of $169.12. The company has a market cap of $3.37 billion, a PE ratio of 7.17 and a beta of 1.21. The company has a 50 day simple moving average of $107.34 and a two-hundred day simple moving average of $112.75.

Matson (NYSE:MATX) last posted its earnings results on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.74. Matson had a net margin of 14.26% and a return on equity of 18.90%. The business had revenue of $830.50 million during the quarter, compared to the consensus estimate of $727.30 million. During the same quarter in the previous year, the firm posted $3.31 EPS. The firm’s revenue was down 2.0% on a year-over-year basis. Research analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 7th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, August 7th. This is a positive change from Matson’s previous quarterly dividend of $0.34. Matson’s payout ratio is presently 9.74%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a “hold” rating and set a $115.00 price target on shares of Matson in a research report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Matson has an average rating of “Hold” and a consensus target price of $131.67.

Matson Company Profile

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.